4/24/2013 Monthly Durable Goods Orders (0830 EDT)
Core Forecast: 0.5%
Core Actual: -1.4%
Previous revision: -0.2% to -0.7%
Regular Forecast: -2.9%
Regular Actual: -5.7%
Previous Revision: -0.1% to 5.6%
SPIKE/REVERSE
Started @ 89.46
1st Peak @ 89.32 – 0832 (2 min)
14 ticks
Reverse to 89.63 – 0849 (19 min)
31 ticks
Extended Reversal to 89.92 – 0918 (48 min)
60 ticks
Notes: Report came in solidly bearish and disappointing overall. This caused a 14 tick short move that bottomed on the :32 bar to extend the LOD by 11 ticks. Then after a double bottom, it reversed for 31 ticks in about 10 min to the R1 Pivot. With JOBB, you would have filled short at about 89.40 with 1 tick of slippage. Look to exit at the end of the :31 bar for about 5 ticks, or place your exit a few ticks lower. After the reversal, it attempted a 2nd Peak, but ran out of gas as the pit opened. Then it reversed long strongly for 60 ticks in about 20 min.